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الاقتصادية
Oil set for 5% weekly rise amid Iran tensions
Oil prices have risen significantly this week, with Brent crude nearing $94 per barrel, heading for weekly gains of about 6%. Meanwhile, West Texas Intermediate remained below $87 after a five-session streak of gains. This comes amidst U.S. efforts to isolate the Iranian economy through new financial measures targeting Tehran and its trading partners, including China, which purchased millions of barrels of Saudi oil in a rare auction. The escalation of tensions between Washington and Tehran over the Strait of Hormuz has pushed oil prices up by more than 50% this year, amid increasing naval attacks on ships in the region, reflecting the ongoing risks of global oil market instability and the impact of U.S. sanctions on Iran’s oil exports.
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